Bidding starts on upstream gas round

19 September 2003
The Petroleum & Mineral Resources Ministry on 15 September released bid packages to prequalified international oil companies (IOCs) for the multi-billion-dollar project to develop non-associated gas reserves in the southeast of the kingdom. Up to 40 companies are understood to be prequalified for the upstream gas round, which covers three contract areas in the Rub al-Khali zone, an area that was originally designated to be developed under core venture 1 of the gas initiative.

IOCs have been given an additional two months until 31 December to access Saudi Aramco's data room in Dhahran, against a refundable deposit of $100,000 for each contract area. The ministry has also permitted more time for oil and gas companies that were not directly invited by the ministry to prepare expressions of interest. The deadline has been extended by one month to 30 November. The ministry will individually qualify each of these companies as non-operators.

The bid deadline for the projects is 26 January, with offers for the three designated areas to be opened over a period of three days (MEED 12:9:03).

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